I denne utgaven

July 24, 2024

Will make up for revenue forgone, says Sitharaman

Union Finance Minister NIRMALA SITHARAMAN, along with her team of bureaucrats, delved into the fine print of the 2024-25 Budget documents in a press conference, detailing the government's road map on bringing down the debt-to-GDP ratio and bold tax measures. Ruchika Chitravanshi, Shrimi Choudhary, and Harsh Kumar report

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POLITICAL BUT PRUDENT DCE CENCE

3 NEW EMPLOYMENT SCHEMES | INTERNSHIP FOR 10 MN YOUTH IN TOP 500 FIRMS END TO ANGEL TAX; I-T RELIEF FOR SALARIED CLASS | HIKE IN CAPITAL GAINS TAX

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Simpler capital gains tax regime highlight of Budget

This Budget has a lot of provisions, but my focus is on some of the items I think will have a significant impact on the middle class.

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Employees to pocket ₹17,500 more as new tax regime hits refresh

Over two-thirds of individual taxpayers opted for new structure in FY24

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Indexation benefit removal a realty check for investors

Finance Minister Nirmala Sitharaman on Tuesday announced major changes in the capital gains tax regime on various assets, including increasing short-term and longterm capital gains tax on equities.

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Walking the talk on fiscal consolidation

Finance Minister Nirmala Sitharaman expedited fiscal consolidation, projecting it at 4.9 per cent of gross domestic product (GDP) for 202425, down from the Interim Budget estimate of 5.1 per cent.

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A roadmap for Viksit Bharat

Finance Minister Nirmala Sitharaman's Budget proposals lay out a comprehensive road map for transforming India into a developed nation, focusing on key priorities that aim to generate ample opportunities for all citizens in \"Viksit Bharat\".

2 mins

Revenue expenditure raised, capex remains untouched

Allocations for Andhra Pradesh and Bihar, but financial implication unclear

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In the right direction

The Budget was a balanced one, with a distinct focus on women, youth and job creation, emphasising the sustained efforts to generate ample opportunities for all.

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Budget proposes to simplify FDI norms

The Union Budget tabled Tuesday ☐ the norms surrounding foreign in Parliament proposed to simplify direct investment (FDI) and overseas investments in a bid to boost capital inflows from foreign shores.

1 min

Budget lays ground for further reforms

The Union Budget is a valuable statement of intent of the government's commitment to growth and development.

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'Budget aims to create abundant opportunities'

Finance Sitharaman's Budget for the fiscal year 2024-25 outlines ambitious initiatives aimed at fostering economic growth, enhancing infrastructure, and encouraging innovation across various sectors.

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Job creation gets Budget boost with incentives

Recognising job creation for the youth as the foremost challenge for the economy, Finance Minister Nirmala Sitharaman on Tuesday announced a comprehensive Prime Minister's package to facilitate the employment and skilling of 41 million youth with a central outlay of ₹2 trillion over the next five-year period.

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Budget draws road map for industry-ready workforce

Internship opportunities, easy skilling loans, new centrally sponsored scheme, and ITI upgrade announced

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Rly capex rises to ₹2.65 trillion

Around ₹1.08 trillion lined up for critical safety works like Kavach

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FM exhorts states to take up next-gen reforms agenda

In her Budget speech, Finance Minister Nirmala Sitharaman on Tuesday underlined the need for collaboration between the Centre and states to take up the next-generation reforms covering land, labour, capital, and entrepreneurship.

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Capex support continues to be sustained

A balanced Budget, focused on national priorities, continues to support the growth of rail infrastructure as already spelled out in the interim Budget 2024-25.

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Coalition, poll maths to the fore

Finance Minister Nirmala Sitharaman presented the Union Budget for FY25 on Tuesday, seeking to respond to the political message that the June 4 Lok Sabha poll verdict had thrown up, and the challenges that the Bharatiya Janata Party (BJP) faces.

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Changed mood: Budget Day reflects new Lok Sabha reality

The new political context was the underlay of the final Budget 2024-25.

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Rahul flags 'hollow' Budget promises; demands ignored, say regional parties

On Tuesday, Congress leader Rahul Gandhi led the Opposition in slamming the government for presenting a Budget full of \"hollow promises\", adding the Centre sought to appease its Andhra Pradesh and Bihar allies to ensure the survival of its government at the Centre.

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'Panel of secretaries working on simplification of FDI rules'

A government panel is working on simplification of foreign direct investment (FDI) rules, including speed of approval of proposals as well as switching to an automatic approval mode, Commerce and Industry Minister PIYUSH GOYAL told Shreya Nandi in New Delhi in a post-Budget interview. Edited excerpts:

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FM's tax measures seek to widen net, cut litigation

Deepening the tax base, reducing litigation, and ensuring tax certainty for taxpayers with a long-term vision to reform the taxation framework have been emphasised in the Budget.

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Setting the stage for India's sustained economic growth

The full Budget for FY25 signals policy continuity and retains focus on fiscal consolidation, a central tenet of the previous government.

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Need a long-term vision

Why does the Budget in India evoke so much hype and expectation? Normally, it should be regarded as a routine annual accounting exercise, as in many other countries.

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Sustaining the India story

The quality of expenditure continues to improve

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Fiscal balance amid coalition compromises

Tinkering with rates proposed in the Budget does not change the protectionist stance and there is a need for rethink on the issue

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Govts have limited impact on jobs

Policy reforms would work better than programmes or projects

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FM sticks to the plan

Budget taxed and spent smartly, more clarity needed on fiscal path

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Defence funding: On guard but unchanged

Current defence allocation’s impact on overall spending still unclear

1 min

Millions of jobs will begenerated: Modi

PM says education, skill development to get a push

2 mins

Budget ushers in relief for gold ETFs, equity FoFs

EQUITY, SELECT HYBRID FUNDS TO FACE HIGHER TAX BURDEN

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Equity trading taxes raised to curb frenzy

STCG, LTCG, STT hiked; move to lift sticky investments

3 mins

Markets pare losses

Sensex rebounds 1,200 pts from day's lows to end flat

2 mins

Tax breaks and rural triggers may keep consumer stocks in play

While the Budget for FY25 ticked most of the right boxes, especially on the macro front, negative surprises in the form of higher tax incidence on financial assets and the withdrawal of indexation benefits on real estate led to a selloff initially.

2 mins

Right balance between economic growth and fiscal prudence

Budget 2024 has charted the course for transforming India into 'Viksit Bharat' by 2047 in the 'Amrit Kaal' with sustained efforts and special focus areas on poor, women, youth and farmer and on nine priority areas: productivity and resilience in agriculture; employment & skilling; inclusive human resource development and social justice; manufacturing & services; urban development; energy security; infrastructure; innovation, research & development and next generation reforms.

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Govt abolishes angel taxon startup funding

Capital gains tax rates between listed, unlisted equity aligned

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Indexation a new plot twist for homebuyers

MIXED FORTUNES FOR REAL ESTATE SECTOR

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Consumer goods firms likely to see an upswing after year of lull

Announcements may put more money in hands of taxpayers boosting consumer demand

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Building foundation to monetise India's demographic dividend

Budget 2024 highlights the government's continued focus on building a strong foundation that empowers citizens and organisations to drive inclusive and sustainable economic growth.

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Sowing seeds for agri R&D

Centre to connect 25, 0001 more evillages' in PhaseIV of rural roads scheme

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Govt slashes food, fertiliser, fuel subsidy bill

Budget Estimate for food subsidy pegged at ₹2.05 trillion, 3.34% lower than Revised Estimate for FY24

2 mins

Some boost for agriculture, rural economy

The agriculture sector has grown at an annual growth rate of 4.2 per cent in the last five years.

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Future-oriented, focused on green mobility

The Union Budget for FY25 demonstrates the nation's outlook towards inclusive, tech-focused and sustainable growth, in line with the government's long-term vision of Viksit Bharat.

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Capex for infra intact, ball now in states' court

Deviating from her earlier infra capital expenditure (capex)loaded Budgets, Dav finance minister Nirmala Sitharaman kept infrastructure spending for key central ministries unchanged from provisions of the interim Budget.

1 min

Lower estimate cheers bond mkt

Rupee declines to new low due to fall in domestic equities

2 mins

An embodiment of reform, perform, and transform

THE FINE PRINT The Finance Minister presented a comprehensive Budget that laid the foundation for fiscal prudence and sustained long-term growth, embodying the government's commitment to 'Reform, Perform, and Transform' during the 'Amrit Kaal'.

2 mins

Fiscal consolidation: Yes. Banking reforms: Wait

This is Union Finance Minister Nirmala Sitharaman's seventh successive Budget, the highest by any finance minister, surpassing Morarji Desai's six.

3 mins

Sharp import duty cut to burnish gold, silver

Union Finance Minister Nirmala Sitharaman on Tuesday announced a sharp cut in import duties on gold and silver, from 15 per cent to only 6 per cent.

2 mins

Firms get limited relief to push MRO services

Union Finance Minister Nirmala Sitharaman on Tuesday announced a slew of measures to give some relief to domestic companies involved in maintenance, repair and overhaul (MRO) of aircraft, boats and ships.

1 min

Budget for growth, continuity, and steadiness

Three key elements emerge from the Budget presented by Finance Minister Nirmala Sitharaman which are crucial indications for India's economic trajectory in the coming years.

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